Yandex.Checkout partners Isbank to provide customers with ruble payments for purchases in Turkey
May 30, 2019
Turkish bank Isbank adds the option of payments via Yandex.Checkout and starts providing its partner companies with payment acceptance via the most popular among Russians payment methods. Cooperation between Yandex.Checkout and Isbank helps Turkish merchants reach Russian consumers and enables millions of Russians to make ruble payments for purchases at online tourist websites in Turkey. Isbank works with over 10,000 online platforms operating in Turkey.
Yandex.Checkout provides a number of methods to pay for purchases on Turkish websites, for example, with a Yandex.Money e-wallet or a linked card issued by any bank, with a card of the MIR payment system, via mobile or online banking of Sberbank or Alfa-Bank. The option to make ruble payments for purchases in Turkey is immediately available to millions of Russians: according to data as of 2018, 46 million wallets are registered in Yandex.Money, over 100 million people use Sberbank and Alfa-Bank services.
«The partnership with Isbank is a big step forward for Yandex.Checkout. It’s important for us to provide Russian customers with the opportunity to pay for purchases in a convenient and safe manner on Turkish e-commerce platforms and online stores. Such partnership enables numerous Turkish merchants to reach millions of local buyers in the context of high demand on goods and services of foreign sellers,» says Ivan Glazаchev, CEO at Yandex.Money.
«We put a special emphasis on physical and e-commerce cross border transactions. Therefore we enrich our payment gateway by adding new methods. To improve trade relations between Russia and Turkey we have done our part by making cooperation with Yandex.Checkout. In this way, we have facilitated the collections of our airlines, tourism agencies and online retailers. We are going to increase variety of our products and services and going to support our merchants who are targeting different geographies,» comments Yalçın Sezen, Deputy CEO at Isbank.
For the customer, the payment process via Yandex.Checkout on a Turkish website is identical to the process on a Russian one. Yandex.Checkout uses ruble conversion to show the purchase price and debit the required amount from an e-wallet or, for example, a bank card.
Yandex.Checkout is the leading service for accepting online payments in Russia, according to a 2018 survey by MARC. With this payment solution, merchants from all over the world can offer Russian consumers the online payment methods most popular among Russians and CIS-citizens: bank cards, e-wallets, mobile phones, and cash via mobile retailers and payment kiosks (there are over 250 thousand cash-acceptance points all over CIS). Currently, more than 106,000 online stores across the globe use Yandex.Checkout. At the Merchant Payments Ecosystem conference (Berlin) Yandex.Checkout received the Best PSP Award in 2019 and the Emerging Payment Award in 2017.
Yandex.Checkout was launched by Yandex.Money in 2013. Yandex.Money is the joint venture of search engine Yandex (NASDAQ: YNDX), and Sberbank, the largest bank in Russia.
Isbank, Turkey’s largest private bank, was founded in 1924. Isbank has more than 1,300 domestic and international branches and 24 thousand employees. Isbank provides 7/24 banking services to its customers via its artificial intelligence based personal assistants, mobile banking applications and internet banking.